Russian Finance Minister Defends Tax Hikes, Cites Ahead-of-Projection Revenues

Russia’s finance minister says authorities ‘didn’t go too far’ with tax hikes, though ‘there was such a risk’

Russia’s Finance Minister Anton Siluanov said budget revenues from value-added tax, whose rate was raised at the start of the year, are running ahead of projections. Siluanov made the remarks at the St. Petersburg Economic Forum, the Russian business news outlet RBC reported. He did not provide specific figures.